Strategic opportunities compass for new ventures … a new framework for thinking
April 10, 2018
Strategic opportunities for new ventures can be categorised along two dimensions, according to new work by Erin Scott and Scott Stern as featured in HBR:
- attitude toward incumbents (collaborate or compete?)
- attitude toward the innovation (build a moat or storm a hill?)
This compass produces four distinct strategies that will guide a venture’s decisions regarding customers, technologies, identity, and competitive space.
In the HBR article they give an example and the strategic options for a case study business RapidSOS: